Pakistan approves structure for $2b North-South Gas Pipeline.
Byline: Fawad Yousafzai
ISLAMABAD -- Pakistan has approved in principle the structure recommended by two Russian companies Eurasian Pipeline Consortium and Federal State Unitary Enterprise (FSUE) for the construction of $2 billion North-South Gas Pipeline.
In 7th JCC session on the North South Gas Pipeline it was also decided to sign the commercial agreement for the pipeline by April 2020 while the ground breaking of the project to be held in June or July this year, official source told The Nation.
The 7th JCC session on the North South Gas Pipeline held here Tuesday between Pakistan and Russia. In the JCC Russian delegation was headed by Russia's Deputy Energy Minister, Anatoli Tikhinov while Pakistan's side was headed by Petroleum Division Secretary Asad Hayaud Din. The officials of both the ISGL and Russian JV were also present in the meeting.
The source said that during the meeting Pakistan in principle approved the Russian Joint Venture consist of Eurasian Pipeline Consortium and Federal State Unitary Enterprise (FSUE). It was also decided that Pakistan will get the opinion from the Law division within one month which will be followed by the pricing and commercial agreement of the project. A protocol in this regard has also been signed.
As per the details in 2015 Pakistan and Russian government had signed an agreement for laying a pipeline for the transportation of RLNG from Karachi to Lahore, called the North-South pipeline. The Russian government had nominated RT Global Resources for the North South project and the completion time for the project was 2017.Since ROSTEC...
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